D`ieteren Group: 1 director

A director at D`ieteren Group bought 10,152,313 shares at 133.617EUR and the significance rating of the trade was 86/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years ...

Benelux Morning Notes

CTP: Sizeable acquisition in Germany. IMCD: Two smaller life sciences acquisitions in APAC. Proximus: Merges all international activities into Proximus Global. VGP: Second closing with Saga JV

CTP Second Large Vallourec Brownfield in Germany

Yesterday afternoon, CTP announced the acquisition of a large brownfield site from Vallourec in Düsseldorf. This deal, valued at €155 million, involves an industrial site spanning over 830k sqm. CTP will invest over EUR 700m to transform the site for manufacturing, R&D and logistics. The site was previously used for Vallourec's tube production. CTP closed a similar Mülheim deal with Vallourec, completed in December 2023. This involved a 335k sqm. Both deals are part of CTP's strategy to redeve...

Morning Notes : FUR NA, GIMB BB, PROX BB, VGP BB, CTPNV NA

: FUR NA, GIMB BB, PROX BB, VGP BB, CTPNV NA

WOOD Daily: TPE PW; 11B PW; KTY PW; KTY PW; Hungary macro; MOL HB; CTP...

HEADLINES: • Tauron: 2025-35 strategy - very ambitious targets, but unrealistic, in our view NEUTRAL • 11 bit studios: decides to discontinue Project 8 NEGATIVE • Kety: preliminary 4Q24 results flat yoy NEUTRAL • Kety: management guidance for 2025E NEGATIVE • Hungary macro: MNB reinforces the hawkish stance • MOL: to acquire additional upstream and infrastructure assets in Hungary NEUTRAL • CTP: buys EUR 155m land plot in Dusseldorf, Germany • Baltic Classifieds Group: CEO sells 4m shares (0.8% ...

Morning Notes : NEXTA BB, PNL NA, UCB BB

: NEXTA BB, PNL NA, UCB BB

UCB Early-stage Parkinson's efforts tremble

UCB's efforts into the neurodegenerative space prove a tough nut to crack, as a Phase 2a study in early Parkinson's disease missed its primary and secondary endpoints. Oral small molecule minzasolmin was designed to address alpha-synuclein misfolding, one of the hallmarks of Parkinson's, but failed to show efficacy in the ORCHESTRA trial. We currently do not yet have strong hypotheses on the reasons of the failure (mechanism of action/drug/trial-related), but minza represented less than 1% of ou...

UCB : Strategic review in China, focus on new sources of growth

UCB : Revue stratégique en Chine, focus sur ses relais de croissance

Dynamic Top Pick List How to start 2025?

On this Friday the 13th we select for you 13 stocks to start 2025 with a bang : ABN Amro, Ackermans & van Haaren, Bekaert, D'Ieteren, EVS, Fagron, Fugro, Gimv, Melexis, Shurgard, Sofina, WDP and Xior However, we maintain a defensive stance in our Benelux selection at the start of 2025.. The long anticipated interest rate cuts by central banks are expected to continue their decline into 2025 (see graph above). However, the Trump election victory in the US hits European stocks even before he tak...

Real Estate Report December 2024

BE-REITS suffer from macro-worries (logistics) and post-Trump knee-jerk reaction. We believe that especially money flows are pushing stocks down as interest rate fears resurfaced in the US. Our top-picks are Shurgard, WDP and Xior. SHUR and WDP have ample headroom on their balance sheet to continue their growth track record. WDP is also very cheap on cash earnings metrics vs. peers. Xior can grow and fix its balance sheet at the same time through contributions in kind.

Benelux Morning Notes

CMB.TECH: Divesting three Suezmax vessels. NEPI Rockcastle: €405m acquisition in Poland

Hyloris Valacyclovir oral suspension deal with Rosemont, appoints new ...

Hyloris announced an exclusive license and supply agreement with Rosemont Pharmaceuticals for its Valacyclovir oral suspension in the US. In addition, the company appointed a new CFO, Christophe Maréchal, who previously served as CFO and co-CEO of Mithra. We reiterate our € 5 TP and HOLD rating.

Galapagos Phase 1/2 CAR-T trial continues to show strong outcomes in r...

Galapagos presented updated data from the phase 1/2 (ATALANTA-1) study of GLPG5101 (CD19 CAR-T) in r/r NHL, which came in line with the previously released abstract. We continue to see strong outcomes and note that the 7 day vein to vein time was achieved in 43/47 patients, demonstrating the feasibility of the company's de-centralised manufacturing process in a larger set of patients. In our view, this further de-risks the NHL program, and we look forward to the US portion of the trial which was...

Morning Notes : OPTI BB, DIE BB, CMBT BB, GLPG NA, HYL BB, UCB BB, CTP...

: OPTI BB, DIE BB, CMBT BB, GLPG NA, HYL BB, UCB BB, CTPNV NA

D'Ieteren Special General Meeting Approves extraordinary dividend of €...

On Friday, D'Ieteren Group's special general meeting approved the distribution of an extraordinary gross dividend of € 74 per ordinary share and € 9.25 per profit share. D'Ieteren Group will go ex-dividend on 10 December 2024, with the record date on 11 December 2024. Payment of the dividend will take place as from 12 December 2024. Deducting the dividend from our valuation, we derive a post-dividend SOTP valuation of € 281ps. After applying a 20% holding discount, we derive a new TP of € 225ps....

UCB A peek under the hood of UCB's pipeline

We issue a new company note with an update on Bimzelx in HS and selected pipeline assets dapimap and UCB1381 & UCB9741 in atopic dermatitis. Dapimap recently concluded its first of two Phase 3 trials in systemic lupus erythematosus (SLE), while we expect Phase 2 results for the atopic dermatitis franchise at the upcoming FY24 update in February. Overall, our analysis confirms UCB's strong pipeline and its potential to drive significant growth in the coming years. The company's strategic focus on...

Holdings Report - November 2024 KBCS Holdings Universe Returns -3.6% D...

1M Performance - Absolute: During Nov'24 (1M period), the KBCS Holdings Universe posted a return of -3.6% which was mainly driven by single-asset holdings (-6.9%) while multi-asset holdings posted a slightly less negative return of -2.2%. The 3 top performers during the period were D'Ieteren Group (+5.4%), Gimv (+5.1%) and KBC Ancora (+0.6%) while the 3 worst performers were Compagnie du Bois Sauvage (-10.1%), Heineken Holding (-9.6%) and Quest For Growth (-7.5%). YTD Performance - Relative: O...